https://www.taxtmi.com/caselaws?id=767812 CESTAT Mumbai held that absolute confiscation of rough diamonds was inappropriate due to lack of valid grounds regarding Kimberley Process Certificate mismatch. The Tribunal found the re-determination of value under Customs Valuation Rules flawed and requiring re-evaluation per proper legal framework. Penalty imposition was contingent upon value re-determination and needed reconsideration. The authority failed to properly verify Kimberley Process Certificate before ordering absolute confiscation. Matter remanded to original authority for fresh decision with proper verification procedures. Appeal allowed by way of remand for comprehensive re-examination of valuation and confiscation issues. en-us Mon, 24 Mar 2025 00:00:00 +0530 Wed, 26 Mar 2025 06:50:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=767812 CESTAT Mumbai held that absolute confiscation of rough diamonds was inappropriate due to lack of valid grounds regarding Kimberley Process Certificate mismatch. The Tribunal found the re-determination of value under Customs Valuation Rules flawed and requiring re-evaluation per proper legal framework. Penalty imposition was contingent upon value re-determination and needed reconsideration. The authority failed to properly verify Kimberley Process Certificate before ordering absolute confiscation. Matter remanded to original authority for fresh decision with proper verification procedures. Appeal allowed by way of remand for comprehensive re-examination of valuation and confiscation issues. Case-Laws Customs Mon, 24 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=767812